Bollywood Superstar Ranveer Singh has become the newest startup investor. As Ranveer Singh invests in SUGAR Cosmetics, one of India’s top omnichannel beauty firms, it makes a much-awaited brand buzz. To further solidify SUGAR’s status as a fan favorite and offer new routes for customer acquisition, especially with the Gen Z and millennial audiences in India, the youth superstar has teamed up with one of the fastest-growing premium cosmetic brands.
Ranveer Singh said in a statement announcing the relationship that he is delighted to partner with a brand that believes in empowering women. Over the years, SUGAR has amassed an impressive amount of support, and he has found it to be inspiring. Ranveer is thrilled to be a part of this process and contribute to the company’s goal of giving more Indian women access to high-quality cosmetics designed with their needs in mind.
In 2015, SUGAR Cosmetics launched as a direct-to-consumer business; by 2017, the company had expanded into traditional retail. The company now has a physical presence in more than 45,000 retail touch points throughout 550 Indian cities, resulting in yearly sales of more than INR 550 crores.
Cofounder and CEO of SUGAR Cosmetics, Vineeta Singh, said that Ranveer has found a wonderful home with the SUGAR family. If anyone has the same DNA as us, it’s Ranveer, and SUGAR is the makeup of choice for strong, confident women who refuse to be boxed in. Ranveer’s bold, funny, and vibrant personality makes the partnership a perfect fit.
As Ranveer Singh invests in SUGAR Cosmetics, SUGAR’s sales are likely to shoot, given its record in the past three years. The company’s growth is also propelled by its strong customer base and wide selection of popular, high-quality products. The company’s ability to create enduring emotional connections with various consumer cohorts directly results from its innovative, impact-focused content marketing.
Cofounder & COO, SUGAR Cosmetics, Kaushik Mukherjee, is thrilled to have Ranveer on board and looks forward to working with him to deepen consumer loyalty to our brand. Ranveer is, without a doubt, one of the most popular youth celebrities in the country, and his unstoppable and clutter-breaking attitude gels extremely well with the brand idea of SUGAR. This partnership will supercharge SUGAR’s growth trajectory as the company continues to scale SUGAR quickly to create it into a significant and much-loved cosmetics & beauty brand.
In the wake of the largest global consumer-focused private equity firm, L Catterton’s Asia fund’s $50 million Series D fundraise led by Ranveer, the latter has announced their investment. Existing investors A91 Partners, Elevation Capital, India Quotient, and new private equity funds showed significant interest in the expanded round.
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